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Leapnet to buy back-end consultant

Published on January 31, 2000.

Leapnet, a Chicago-based agency and Web developer, has agreed to buy SPR, an Oak Brook, Ill.-based company that provides back-end consulting services. In the all-stock transaction, Leapnet, which owns interactive shop Quantum Leap Communications as well as traditional agencies, will trade 1.085 share of its shares for each share of SPR stock.The new company will be called Leapnet and reportedly will have $80 million in revenue in 2000. Leapnet's stock closed at $5.72 on Jan. 28.